In the eve of its 30th anniversary, Postbank won two international prizes at the prestigious World Finance Digital Banking Awards 2020 of the reputable World Finance Magazine. It won the awards in the categories Best Consumer Digital Banks, Bulgaria and Best Mobile Banking App, Bulgaria for the Bulgarian consumers. The competition’s winter edition distinguishes the best banks in the provision of digital services to consumers and the introduction of innovative management models.
Postbank is the only financial institution from Bulgaria, which won an award in this year’s edition. The recognition comes as a result of a series of innovations, the m-Postbank mobile banking application, the modern branch network and the digital services that the bank has offered for customers’ convenience throughout the last challenging year. This is yet another success for the institution after it won Best Retail Bank in Bulgaria for a third consecutive year in 2020 in the World Finance Banking Awards of the financial magazine of the same name.
“The bank’s digital channels will continue to be the preferred way to conduct day-to-day banking operations, and we are trying to meet this need, especially now that remote banking is not just a convenience but a necessity. As a result of the increasingly active use of digital channels by the bank’s customers, at the end of 2020 the total share of online transactions reached 78% on an annual basis compared to the 22% of those carried out in an office”, Postbank pointed out.
The upward trend in the development of the bank’s digital channels is clearly confirmed by the data on their use on an annual basis, with the most significant increase in use being that of the m-Postbank mobile application. Last year, the active users of the application grew by 60%, and the total number of transactions went up by 50% compared to 2019. The figures are also an indisputable indicator of the trust that Postbank is gaining, becoming the “digital bank” that customers prefer. Last year saw a remarkable increase of 120% in online loan applications, and the amounts utilized through the bank’s digital channels almost doubled compared to 2019.
“The future of banks lies in digitalization, so our constant investment in human resources, innovative services and technological infrastructure characterize the Bank’s strategy in this direction, by developing modern solutions and new opportunities for all our customers. They can take advantage of a completely remote process of applying for and receiving loans, bills, insurance, debit and credit cards, online mortgage loan consultation via the EVA Postbank mobile application, as well as our digital areas for express banking, which are unique to local market. Thanks to our digital zones, customers can identify themselves with their bank card and carry out about 90% of the operations performed by bank employees themselves.
We continue to develop our services and we will soon offer a new generation of a mobile wallet. That is why we are very happy to receive these awards now. They are another proof that we are moving in the right direction and we have answered the most important thing – good customer satisfaction”, Postbank said.
A number of leading banks take part in the prestigious competition, setting the trends and determining the next phases in the digitalization of banking. Among them are established world banks, such as Bank of America, UBS, Lloyds Banking Group, Citi, HSBC, BBVA and others.
World Finance Magazine is a print and online magazine that provides a comprehensive coverage and analysis of the financial industry, international business and the global economy. The magazine, published by World News Media in London, targets an audience of finance professionals, corporate and private investors, covering a wide range of topics in banking and insurance management. Since 2007, World Finance Magazine has been organizing the eponymous annual awards – World Finance Awards, which aim to recognize business achievements, successes and innovations around the world, and since 2016, it has been organizing the World Finance Digital Banking Awards, which recognize the exceptional digital solutions and innovations of banks around the world.